61) The PLC concept can be applied by marketers as a useful framework for describing how ________. A) to forecast product performance B) to develop marketing strategies C) products and markets work D) concept testing is conducted E) product ideas are developed Answer: C Diff: 3 Page Ref: 274-275 Skill: Concept Objective: 9-3 62) Using the PLC concept to develop marketing strategy can be difficult because strategy is both a ________ and a(n) ________ of the product's life cycle. A) mirror image; cause B) cause; result C) result; mirror image D) beginning; end E) purpose; effect Answer: B Diff: 3 Page Ref: 275 Skill: Concept Objective: 9-3 63) In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness? A) growth B) product development C) maturity D) introduction E) adoption Answer: D Diff: 2 Page Ref: 275 Skill: Concept Objective: 9-3 64) In which stage of the PLC will promotional expenditures be high in an attempt to respond to increasing competition? A) growth B) decline C) maturity D) product development E) adoption Answer: A Diff: 2 Page Ref: 275 Skill: Concept Objective: 9-3 65) Which stage in the PLC normally lasts longest and poses strong challenges to the marketing managers? A) growth B) decline C) maturity D) phase-in E) adoption Answer: C Diff: 2 Page Ref: 277 Skill: Concept Objective: 9-3 66) Which of the following would lead to greater competition in the maturity stage of the PLC? A) overcapacity B) market pioneers C) poor management D) inadequate promotion E) diminishing budgets Answer: A Diff: 2 Page Ref: 277 Skill: Concept Objective: 9-3 67) Most products in the marketplace are in the ________ stage of the product life cycle. A) growth B) decline C) maturity D) introduction E) development Answer: C Diff: 2 Page Ref: 277 Skill: Concept Objective: 9-3 68) When a product is in the maturity stage, the company should consider ________. A) harvesting the product B) modifying the product, market, or marketing mix C) divesting the product D) liquidating the product E) dropping the product Answer: B Diff: 1 Page Ref: 277 Skill: Concept Objective: 9-3 69) Which of the following best represents the options a company has when a product is declining? A) maintain or harvest the product B) harvest or drop the product C) maintain, harvest, or drop the product D) maintain or pioneer the product E) pioneer, harvest, or maintain the product Answer: C Diff: 2 Page Ref: 279 Skill: Concept Objective: 9-3 70) Superior Luggage Company has undertaken the task of identifying its products in the decline stage of the PLC. Which of the following should NOT be done in the identification process? A) regularly reviewing sales B) regularly reviewing market share C) regularly reviewing costs D) regularly reviewing management's pet projects E) regularly reviewing profit trends Answer: D Diff: 2 Page Ref: 279 Skill: Concept Objective: 9-3 71) Manufacturers must comply with specific laws regarding ________. A) profit margins B) product quality and safety C) product harvesting D) distribution channel length E) product life cycles Answer: B Diff: 2 Page Ref: 280 AACSB: Ethical Understanding and Reasoning Abilities Skill: Concept Objective: 9-4 72) Because of ________, a company cannot make its product illegally similar to a competitor's already established product. A) anti-monopoly laws B) patent laws C) the Consumer Product Safety Act D) product warranties E) product liability Answer: B Diff: 2 Page Ref: 280 AACSB: Ethical Understanding and Reasoning Abilities Skill: Concept Objective: 9-4 73) Which of the following best describes the role of a product steward? A) to protect consumers from harm B) to evaluate new-product ideas against a set of general criteria C) to develop a new-product concept into a physical product D) to protect the company from liability by identifying and solving potential product problems E) A and D Answer: E Diff: 3 Page Ref: 280 AACSB: Ethical Understanding and Reasoning Abilities Skill: Concept Objective: 9-4 74) The advantages of standardizing an international product include all of the following EXCEPT ________. A) the development of a consistent image B) lower product design costs C) the adaptation of products to different markets D) decreased manufacturing costs E) lower marketing costs Answer: C Diff: 2 Page Ref: 281 AACSB: Dynamics of the Global Economy Skill: Concept Objective: 9-4 75) Because names, labels, and colors may not easily translate from one country to another, international marketers must carefully assess ________. A) product standardization B) market rollout C) the product life cycle D) packaging E) styles Answer: D Diff: 2 Page Ref: 281 AACSB: Dynamics of the Global Economy Skill: Concept Objective: 9-4 |